Mumbai: Yes Bank has left two options for it's harried customers- devil or the deep sea. ATMs, net banking and all digital modes of transaction have taken a hit. While YES Bank is asking its customers to use the digital mode or to go to the nearest ATM for cash, the difficulty is that the ATMs are still non- functional (with no cash). The city was witness to long beelines of worried customers outside Yes Bank ATMs second day in a row.
Customers are facing this issue despite the fact that the withdrawal limit prescribed by RBI for an individual customer is up to Rs 50,000. YES Bank stated that due to heavy traffic, customers may face intermittent issues with NetBanking and their Mobile App.
Banking unions are now pointing fingers at the security of people's money in private sector banks.
AIBEA, Joint Secretary, Devidas Tuljapurkar, said, “All this while the government kept pointing fingers at the public sector, however the reality is private sector banks need to be specially inspected. The government has followed the principle of nationalization of losses and privatization of profits.”
An insurance professional, Sarah Rodrigues, was unable to carry out her transaction via ATM and digital modes as well. “I was struggling to get an important transaction done. However, that failed to happen. During this process, I realized that I also need to delink my account (in YES Bank) from all ECS payments like salary, PF and EMI else all my payments will lapse,” informed Rodrigues.
Rodrigues has been banking with the bank for over five years and YES Bank and also maintains her primary account there.
“Even though I have an account in another bank, I am dependent on my YES Bank account for all my daily expenses,” explained Rodrigues. Meanwhile, Ruth D’Souza, who works in the development sector, stated, “Luckily, my YES Bank account was not my primary account. So, I did not keep all my savings in the Bank.”
Yet another account holder stated that even a UPI transaction worth Re 1 is not going through. “UPI has delinked by account automatically,” added an account holder.
